Private Advisor Group LLC trimmed its position in Colgate-Palmolive (NYSE:CL) by 10.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,924 shares of the company’s stock after selling 3,074 shares during the period. Private Advisor Group LLC’s holdings in Colgate-Palmolive were worth $1,820,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Capital Financial Planning LLC purchased a new position in Colgate-Palmolive in the 4th quarter valued at $27,000. Parisi Gray Wealth Management grew its position in Colgate-Palmolive by 365.3% in the 4th quarter. Parisi Gray Wealth Management now owns 470 shares of the company’s stock valued at $28,000 after buying an additional 369 shares during the last quarter. Portfolio Solutions LLC purchased a new position in Colgate-Palmolive in the 4th quarter valued at $30,000. WP Advisors LLC purchased a new position in Colgate-Palmolive in the 1st quarter valued at $34,000. Finally, Lindbrook Capital LLC purchased a new position in Colgate-Palmolive in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 75.66% of the company’s stock.
In related news, VP Justin Skala sold 92,643 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $70.78, for a total value of $6,557,271.54. Following the sale, the vice president now directly owns 163,653 shares in the company, valued at approximately $11,583,359.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ian M. Cook sold 16,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $66.72, for a total transaction of $1,067,520.00. Following the completion of the sale, the chief executive officer now owns 1,146,793 shares in the company, valued at $76,514,028.96. The disclosure for this sale can be found here. Insiders sold a total of 354,711 shares of company stock worth $25,087,935 over the last quarter. Insiders own 1.14% of the company’s stock.
Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, April 26th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. Colgate-Palmolive had a net margin of 15.08% and a negative return on equity of 3,730.37%. The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same period in the previous year, the firm earned $0.74 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that Colgate-Palmolive will post 2.84 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were given a $0.43 dividend. The ex-dividend date was Wednesday, April 17th. This is a positive change from Colgate-Palmolive’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 2.34%. Colgate-Palmolive’s payout ratio is currently 57.91%.
CL has been the topic of a number of analyst reports. Credit Suisse Group initiated coverage on shares of Colgate-Palmolive in a research report on Wednesday, March 6th. They issued an “underperform” rating on the stock. Zacks Investment Research lowered shares of Colgate-Palmolive from a “buy” rating to a “sell” rating in a research report on Monday, April 15th. Citigroup set a $68.00 price objective on shares of Colgate-Palmolive and gave the company a “hold” rating in a research report on Tuesday, March 19th. Morgan Stanley boosted their target price on shares of Colgate-Palmolive from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. Finally, Macquarie boosted their target price on shares of Colgate-Palmolive from $65.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $70.13.
Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. The company operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. It offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; and personal care products, such as liquid hand soaps, bar soaps, shower gels, deodorants and antiperspirants, skin care products, and shampoos and conditioners.
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